Important About Starwood's Presence In Cuba? Obama Administration Permits Contract With The Military

Important About Starwood’s Presence In Cuba?  Obama Administration Permits Contract With The Military

Stamford, Connecticut-based Starwood Hotels & Resorts Worldwide, Inc., has been authorized by the Office of Foreign Assets Control (OFAC) of the United States Department of the Treasury to sign a management contract with Revolutionary Armed Forces of the Cuba-controlled Grup de Turismo Gaviota SA.

The Obama Administration has recognized, acknowledged, that the military in the Republic of Cuba is in control of desired economic assets and sectors; and that the military in the Republic of Cuba is expected to remain in control of desired economic assets and sectors.